Question: ( 1 point ) ( Exercise 3 . 3 0 ) A beneficiary receives a $ 1 0 , 0 0 0 life insurance benefit.

(1 point)(Exercise 3.30) A beneficiary receives a $10,000 life insurance benefit. If the beneficiary uses the proceeds to buy a 8-year
annuity-immediate, the annual payout will be $1766.65. If a 16-year annuity-immediate is purchased, the annual payout will be
$1158.82. Both calculations are based on an annual effective interest rate of i. Find i.
i=
(1 point)(Exercise 3.30) A beneficiary receives a $10,000 life insurance benefit.

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